RNS Number:5447I
Glanbia PLC
06 September 2006





                GLANBIA MAKES MAJOR US NUTRITIONALS ACQUISITION


      DELIVERING A SIGNIFICANT STEP FORWARD IN THE GROUP'S GROWTH STRATEGY


6 September 2006 - Glanbia plc, the international dairy foods and nutritional 
ingredients Group, today announced the acquisition of a California based 
nutritional business, Seltzer Companies, Inc., (Seltzer). The total 
consideration is US$105 million (Euro81.8 million), of which US$80.0 million 
(Euro62.3 million) cash is payable on completion and US$25.0 million 
(Euro19.5 million) deferred payments, which are contingent on the achievement of 
specific performance targets. The business is being acquired on a debt free 
basis and will be funded through Glanbia's existing financing facilities. The 
transaction is subject to approval by the US Federal Trade Commission and 
completion is expected in October 2006.

In 2005, Seltzer generated revenue of US$52.6 million (Euro41.0 million), profit 
before taxation of US$6.4 million (Euro5.0 million) and had gross assets of 
US$17.0 million (Euro13.2 million) at December 2005.

Seltzer is a leading US nutritional solutions company with strong expertise in 
the development of customised formulations and the distribution of speciality 
ingredients for the nutritional supplement, food and pharmaceutical 
markets. It specialises in the development and supply of bulk fine nutrients 
(amino acids, minerals and vitamins) and nutritional premixes. Seltzer employs 
94 people and services a customer base across the US from three facilities in 
San Diego County. The business will continue to be run by the existing 
management team, led by Wayne Seltzer.

This is a significant acquisition for Glanbia:

   *Seltzer's growth prospects broaden the potential for the Group's US and
    international nutritional solutions business where Glanbia is a key supplier
    of nutritional premixes and functional customised formulations;
   *Seltzer creates the opportunity to extend Glanbia's major investment in 
    innovation and clinical research in nutritional products with science-based 
    health benefits; and
   *Seltzer is a strong fit with Glanbia's existing nutritional business 
    delivering increased scale in key growth sectors.


John Moloney, Group Managing Director of Glanbia, commented today:


    "Consumers world-wide are increasingly aware of the link between diet and
    health and as a result key sectors within the global nutritional market,
    such as functional foods and nutritional supplements, are growing very
    strongly. The acquisition of Seltzer Companies, Inc., combined with our
    existing Nutritionals business, extends Glanbia's platform to develop a
    global Nutritionals business and will be earnings enhancing in 2007. It also
    advances the international development of the Group into key global growth
    markets. We welcome Wayne Seltzer and his team to the Group."


ENDS



Exchange rate: Euro1 = US$1.284 ( 5 September 2006)


For further information contact

Glanbia plc +353 56 777 2200
Geoff Meagher, Deputy Group Managing Director/Group Finance Director
Siobhan Talbot, Deputy Group Finance Director
Geraldine Kearney, Corporate Communications + 353 87 231 9430
Hogarth Partnership UK +44 207 357 9477
John Olsen



Note for Editors


Glanbia Nutritionals is a leading provider of science-based nutritional
solutions for products with enhanced health benefits. This business produces a
wide range of specialty whey proteins, dairy derived nutritional ingredients,
minerals and vitamins. Glanbia Nutritionals supplies ingredients for use in
ready-to-drink/ powdered beverages, nutritional bars, dairy products, snacks and
confectionary products across a range of sectors, including the sports
nutrition, weight management and general wellness markets. Glanbia Nutritionals
has operations in the US, Ireland, Germany and the UK as well as sales offices
in South America and China. The business focuses on two key areas:

               Speciality Ingredients                    Vitamins & Minerals
                         &
               Dairy based nutrition

Experts in the application of innovative and         Specialist in research,
specialty ingredient solutions, including a wide     development and production
range of specialty whey proteins and other dairy     of customised nutrient
based nutritional ingredients.                       systems

For use in ready-to-drink and powdered beverages,    Supplying a full range of
nutritional bars, dairy products, snacks,            bespoke formulations : 
confectionary applications etc.                      (vitamins, minerals, trace
                                                     elements, amino acids etc.)

Global Nutritional Market

Consumer lifestyle trends have contributed to a demand for convenience and this
combined with increased public awareness of diet and health is driving the
Global nutritional market which is estimated to be worth Euro60 billion. Within
this the nutritional premix market is growing at the rate of 10% per annum






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
ACQAKPKQKBKBACK
Grafico Azioni Glanbia (LSE:GLB)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Glanbia
Grafico Azioni Glanbia (LSE:GLB)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Glanbia